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Stories Tagged - Bob Dhillon

Courtesy Bob Dhillon
News

July 25, 2018 | Mario Toneguzzi

My First Home: Bob Dhillon, Mainstreet Equity Corp.

Calgary real estate mogul Bob Dhillon has built a successful business across Western Canada with Mainstreet Equity Corp., which owns and manages thousands of rental properties.

His business has its roots on the residential side of real estate, and it all started when he bought his first home in Calgary, fixed it up and sold it for a profit.

Gerry Baxter, executive director of the Calgary Residential Rental Association, said the vacancy rate among members of the association is between eight to 10 per cent. Photo by Wil Andruschak, for CREB®Now
News

Aug. 12, 2016 | Mario Toneguzzi

Renters' paradise

Over-supply, fewer newcomers behind increasing vacancy rates

Vacancy rates in Calgary have spiked so far this year and are expected to rise for the foreseeable future, say industry insiders.

And with few signs of significant changes in the economy on the horizon, renters will enjoy plenty of choice and price flexibility, while landlords will need to get aggressive.

"Vacancy started rising pretty rapidly after the spring of last year and it's still been rising," said Gerry Baxter, executive director of the Calgary Residential Rental Association, which has about 850 members, representing between 65,000 and 70,000 rental units. There are more than 700 landlords in the association.

The Hat, which will house 221 units, represents the first purpose-built rental development in East Village. Rendering courtesy Cidex Developments
News

Jan. 26, 2016 | Kathleen Renne

On purpose

Industry welcomes influx of rental units coming on stream

An increase in the number of purpose-built rentals coming onto the market over the next few years is good for Calgary and the communities they reside in over the long run, say experts

According to Canada Mortgage and Housing Corp.'s (CMHC's) Fall 2015 Rental Market Report for Calgary, 1,216 apartment rental units were under construction as of September 2015, a 53 per cent increase from the year before.

This comes after purpose-built rental apartments increased for the second consecutive year in 2015. CMHC reports 865 purpose-built rental units came on the Calgary market in 2015, bringing the total number of such units in the city up to 35,227.

Randy Dhillon, Mainstreet
News

Nov. 25, 2015 | CREBNow

Calgary-based rental company to welcome Syrian refugees

Expected to open 200 units across Western Canada

Calgary-based Mainstreet Equity Corp., which specializes in mid-market apartment building in Western Canada, announced Wednesday that it will allocate at least 200 apartment units to house Syrian refugees expected to come to the country this year and next.

The apartments will reportedly be located in Calgary, Edmonton, Lethbridge, Saskatoon, Surrey, B.C., Abbotsford, B.C., and New Westminster, B.C.

Details of how many apartments will be allocated in Calgary were not yet available.


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